Fintech News from Ireland and around the World

The 2025 return of the Annual Fintech Ireland Summit

1/1/2027

Following the success of the inaugural Fintech Ireland Summit in 2024, the Summit returns in 2025.

We have more than 220 attendees ranging from large international fintechs through to indigenous Irish start-ups in attendance represented by the who's who of c-suite executives from across the globe.

Read more here

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The best board advice? Don’t rush [into a Fintech Directorship] (20 February 2025)

31/12/2026

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Inside the Fintech boardroom: Peter Oakes on due diligence, diversity and the power of a continuous learning

Sources:

Peter Oakes - Experienced Fintech and Financial Services Board Director
Peter Oakes is a qualified solicitor, and has a background in regulation, governance, and compliance. Peter has held key positions at the Central Bank of Ireland and led initiatives in fintech. Peter Oakes is a founder of Fintech Ireland.

What’s the most important advice you would give to someone considering a board position?
Be selective and conduct thorough due diligence before accepting any board appointment. It’s not just about joining a club - it’s a serious responsibility. You need to understand the risks involved and ensure you can add unique value to the board. If you don’t have the right expertise or understanding, you could find yourself in the headlines for the wrong reasons. Boards thrive on diversity of thought and experience, so it’s essential to assess whether you bring something different to the table.

How has your career in regulation and governance shaped your approach as a board director?My career began in regulation in Australia, where I witnessed firsthand how governance failures led to a corporate crisis and regulatory overhaul. I later worked with the UK Financial Services Authority (FSA) during its formation, and then as Director of Enforcement and Financial Crime at the Central Bank of Ireland during the financial crisis. Those experiences reinforced the importance of strong governance, regulatory compliance, and the role of independent directors in challenging management decisions. I bring that perspective to every board I serve on.

How has Ireland’s fintech sector evolved, and what should NEDs consider before joining a fintech board?
Ireland’s fintech success is partly due to the presence of major US tech firms, the availability of skilled professionals, and strong regulatory frameworks. There are now around 300 indigenous fintech firms and 140 international ones operating in Ireland. However, fintech moves fast, and that means risk. NEDs must be comfortable engaging with entrepreneurs who are scaling rapidly and sometimes breaking conventions. Regulators see risk in that, and it’s up to NEDs to ensure there is strong oversight. If you’re not prepared to challenge management or engage with investors, a fintech board might not be the right fit for you.

What key skills and attributes make for an effective independent non-executive director (INED)?
First, you need to be comfortable analysing financials - profit and loss statements, balance sheets, and cash flow reports. While you don’t have to be a chartered accountant, you must be able to ask the right questions. Independence of thought is also crucial. You’re not there as a cheerleader for management - you’re there to provide oversight and challenge decisions when necessary. Finally, understanding your regulatory obligations is key. If you’re not prepared to be questioned by a regulator, an INED role in financial services may not be for you.

How has your IoD Ireland membership supported your journey as a board director?IoD Ireland has been invaluable to me. When I first joined in 2008, I was looking to deepen my understanding of Irish company law and governance. Completing the Chartered Director programme in 2009 was a great foundation for my board career. Beyond education, the networking opportunities have been exceptional. The IoD provides ongoing professional development, high-quality events, and access to a peer network that is incredibly useful for staying at the forefront of governance trends. The practical business value of membership is undeniable, especially for INEDs who need to stay CPD-compliant and informed.

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The Future of Digital Finance: An Analysis of the Central Bank of Ireland’s Discussion Paper 12 - Fintech Ireland & Periti AI

5/3/2026

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By Peter Oakes, Fintech Ireland & Periti AI

www.fintechireland.com | www.periti.ai

About Peter Oakes:
Peter Oakes is a recognised expert in fintech, digital assets, and regulatory strategy. He is the founder of Fintech Ireland (www.fintechireland.com) and Periti AI (www.periti.ai), organisations dedicated to advancing the frontier of financial technology through deep industry insight and artificial intelligence. He is a director of several regulated financial services firms in the MiFID, CASP and Payments industries and is Board Adviser to Intercept Technologies Limited (a full suite cybersecurity governance, risk & compliance business also providing threat detection and prevention and penetration testing services to the regulated fintech community).

As the financial landscape undergoes a radical shift toward digitisation, the Central Bank of Ireland (CBI) has released a pivotal Discussion Paper (DP 12) exploring the role of Distributed Ledger Technology (DLT) and tokenisation. At Fintech Ireland and Periti AI, we recognise this as a critical moment for the Irish and European ecosystems. This summary, prepared by Peter Oakes, explores the core themes of the paper, from structural benefits to the complex risk matrices that firms must now navigate.

1. Defining the New Frontier

The CBI defines DLT as a technological solution that achieves a single, shared "source of truth" via a common ledger. Peter Oakes highlights that this technology departs from current models that rely on multiple, fragmented databases requiring constant reconciliation.
The paper distinguishes between two types of tokens:

Digitally Native Tokens: Issued directly on a DLT.
Non-Native Tokens: Digital representations of existing assets issued elsewhere.

From the perspective of Periti AI, the diversity of DLT systems—categorised as public or private, and permissioned or permissionless—is the most significant factor for future governance.

2. Realising the Efficiency Gains

The CBI notes that conventional markets operate on a two-step model: trade execution followed by settlement. This introduces counterparty risk and adds time and cost. Peter Oakes observes that DLT can "collapse" these steps into a single, "atomic" process where trade and settlement occur simultaneously.
Key benefits identified by the CBI and emphasised by Fintech Ireland include:

24/7/365 Availability: Near-instant settlement and continuous system uptime.
Fractionalisation: Dividing ownership into smaller digital units to broaden participation and increase liquidity in once-inaccessible assets.
Programmability: The use of smart contracts to automate corporate actions like dividend payments or collateral management.

3. The Seven Pillars of a Robust Enabling Environment

The CBI asserts that technology alone will not deliver these benefits. Peter Oakes identifies the seven critical enablers outlined in the paper that are essential for the Irish fintech sector:

Legal and Regulatory Clarity: Establishing what represents an enforceable claim on a tokenised asset.
Interoperability: Avoiding "walled gardens" by ensuring different DLT platforms can communicate through common standards.
Tokenisation of Assets and Money: Ensuring both sides of a transaction (asset and payment) are on-chain to allow for atomic swaps.
Settlement in Central Bank Money: The CBI insists that central bank money must remain the ultimate settlement asset to ensure financial stability.
Operational Resilience: Adhering to the Digital Operational Resilience Act (DORA) to manage network congestion and cyber risks.
Digital Identity: Implementing verifiable identity frameworks to prevent illicit activity.
Transparent Governance: Ensuring clear accountability, especially in permissionless systems where no single entity currently holds responsibility.

4. Tokenisation in Markets and Fund

Ireland’s position as a global hub for investment funds makes the CBI's focus on this sector particularly relevant to Peter Oakes and the teams at Fintech Ireland and Periti AI.

The Fund Ecosystem
The CBI notes that Irish-authorised funds are already exploring "digital twin" models for share classes. Peter Oakes points out that tokenisation could automate fund workflows—such as eligibility checks and fee structures—through smart contracts.

Money Market Funds (MMFs) and ETFs
The paper highlights the rapid growth of Tokenised MMFs (TMMFs), which grew from $770 million in 2023 to nearly $10 billion by late 2025. Peter Oakes draws attention to the CBI's use cases, which suggest TMMFs could be used as high-speed collateral in margin arrangements. Similarly, tokenising ETFs could enable more automated "Delivery versus Payment" (DvP) processes.

5. The Evolution of Money and Payments

The CBI discusses the two-tier monetary system, where central bank money anchors the system and private banks issue deposits. Peter Oakes notes that this is evolving through:

Wholesale CBDCs: Initiatives like the Eurosystem’s "Pontes" (short-term) and "Appia" (long-term) projects to enable DLT settlement in central bank money.
Tokenised Deposits: A "promising" pathway for regulated banks to offer DLT efficiencies while maintaining existing consumer protections.
Stablecoins: Referred to by the CBI as "private settlement assets," these are growing fast but lack the deposit guarantees of traditional money.

6. Navigating the Risks

Peter Oakes and Periti AI emphasise that the CBI is not "technology agnostic" but actively monitoring new vulnerabilities. The paper categorises these risks as:

Disintermediation: Moving functions away from regulated entities like CSDs and toward private "validators" or "oracle" providers who may have weaker oversight.
Smart Contract Risk: Coding errors that can lead to irreversible asset loss.
Oracle Risk: Reliance on external data feeds which, if manipulated, can trigger incorrect liquidations.
Liquidity Fragmentation: The risk that having both tokenised and traditional versions of an asset could split liquidity and complicate price discovery.

7. Strategic Outlook and Next Steps

The CBI concludes that while risks are not necessarily higher than in traditional finance, they are "redistributed" across new actors and technologies. Peter Oakes notes that the Bank is seeking feedback by 5 June 2026.

At Fintech Ireland and Periti AI, we believe this Discussion Paper serves as a vital roadmap. The goal is to foster an ecosystem that balances the "brilliance" of technological innovation with the unwavering necessity of market integrity and consumer protection.

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Looking for the Discussion Paper? CLICK HERE
Looking for the Central Bank of Ireland Announcement? CLICK HERE

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PINNED: USA Today - Ireland: A Nation Inspired by Change

31/12/2025

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To stay abreast of developments at FintechHub.ie sign up to our Newsletter HERE

PINNED: USA Today - Ireland: A Nation Inspired by Change

Following a post on Linkedin last week, we have been asked about other interviews conducted by USA Today with interviewees.

Being respectful of USA Today's copyright, we have only included a limited selection of articles, interviews and links below. Click on the images below to read in a larger format.

The publication was released on Wednesday 28th June 2023.

Full interview by USA Today with Peter Oakes of Fintech Ireland in PDF and online.

Click for larger image

Full interview by USA Today with Brian Fahey of MyComplianceOffice (MCO) online. MCO appears on both the Fintech Ireland Map and the RegTech Ireland Map.

Check out the following interviews with other Irish business leaders doing between Ireland and the USA

Interview with Joanna Murphy, CEO, Director and Co-founder, IDLF and Reside in Ireland
Interview with Enda Kelleher, Vice-President of Sales for North America at Sprintax, Ireland

Interview with Aidan Finn, CEO of Binarii Labs, Ireland
Interview with Eoin Hinchy, Co-Founder and CEO, Tines

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Legend Trading's Irish subsidiary secures coveted CASP Authorisation from the Central Bank

10/10/2025

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Legend Trading’s Irish subsidiary Legend Financial Ireland Limited becomes the second digital assets group to secure a MiCAR authorisation in Ireland

Congratulations to innovative digital assets leader, Hao Chen, Founder of Legend Trading for securing a much coveted CASP authorisation from the Central Bank of Ireland on Friday 10th October 2025. Legend Financial Ireland Limited, Reference No. C535172, is authorised as a crypto-asset service provider to provide: “(c) exchange of crypto-assets for funds; (d) exchange of crypto-assets for other crypto-assets”.

The Irish company is led by CEO, Ciaran O’Hare and its Independent Chairperson is Peter Oakes.

Hao Chen, CEO of Legend Trading, commented:

“Securing the MiCA license from the Central Bank of Ireland marks a pivotal milestone in our global strategy. Ireland is renowned for its high regulatory standards and robust financial ecosystem, and we are honored to collaborate closely with its regulators under this new framework. This license not only strengthens our presence in Europe but also enhances the trust of our clients and partners worldwide. We will continue to balance compliance and innovation, expanding the boundaries of our products and services to accelerate the convergence of traditional finance and digital assets.”

Legend Trading is only the second digital assets group to secure a CASP authorisation from the Central Bank of Ireland. The other digital asset group is Kraken.

Today, Fintech Ireland released Version 19 of Ireland’s Regulated Fintech Ecosystem (Payments, Crypto & Crowdfunding) to include Legend Financial Ireland Limited. That Map showcases the 89 fintech licences issued by the Central Bank of Ireland Read more HERE.

As reported in CoinTelegrapgh today: “Building on its MiCA license, Legend Trading is introducing Legend FXN — a stablecoin-to-fiat exchange and settlement platform for European banks, EMIs, PIs, and other institutions. Legend FXN will enable regulated institutions to securely and cost-effectively access stablecoin and euro liquidity. As the MiCA-authorized settlement layer, it provides instant exchange and reconciliation, establishing a compliant clearing infrastructure for Europe’s financial system.”

Again, congratulations to all involved in achieving this milestone.

The eagle-eyed among you may notice that the Central Bank’s Register of Authorised Crypto-Asset Service Providers (Article 63 of Regulation (EU) 2023/1114, records that Legend Financial Ireland Limited, alongside of the Kraken Irish authorised CASP entities confirms that all three are both (1) a ‘Crypto Asset Service Provider’ and (2) a ‘Virtual Asset Service Provider’.

Digital Assets will be a key theme at the Fintech Ireland Summit taking place on Thursday 27th November 2025. Make sure you attend - get your tickets HERE

Sign up to our Newsletter here.
Attend the Fintech Ireland Summit here.
Need assistance with an emoney or payments authorisation or an account information service provider or virtual asset services provider registration application, check out Fintech Ireland and CompliReg's handy authorisation guides at https://fintechireland.com/fintech-authorisations.html.

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The 2025 return of the Annual Fintech Ireland Summit

The best board advice? Don’t rush [into a Fintech Directorship] (20 February 2025)

Inside the Fintech boardroom: Peter Oakes on due diligence, diversity and the power of a continuous learning

The Future of Digital Finance: An Analysis of the Central Bank of Ireland’s Discussion Paper 12 - Fintech Ireland & Periti AI

PINNED: USA Today - Ireland: A Nation Inspired by Change

PINNED: USA Today - Ireland: A Nation Inspired by Change

Check out the following interviews with other Irish business leaders doing between Ireland and the USA

Legend Trading's Irish subsidiary secures coveted CASP Authorisation from the Central Bank

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The 2025 return of the Annual Fintech Ireland Summit

The best board advice? Don’t rush [into a Fintech Directorship] (20 February 2025)

​Inside the Fintech boardroom: Peter Oakes on due diligence, diversity and the power of a continuous learning

The Future of Digital Finance: An Analysis of the Central Bank of Ireland’s Discussion Paper 12 - Fintech Ireland & Periti AI

PINNED: USA Today - Ireland: A Nation Inspired by Change

​PINNED: USA Today - Ireland: A Nation Inspired by Change

Check out the following interviews with other Irish business leaders doing between Ireland and the USA

Legend Trading's Irish subsidiary secures coveted CASP Authorisation from the Central Bank

Author

Archives

Categories

Inside the Fintech boardroom: Peter Oakes on due diligence, diversity and the power of a continuous learning

PINNED: USA Today - Ireland: A Nation Inspired by Change